Author: Kumar Utpal

The insurance industry needs to get ready for ‘Insurance 3.0’ – the next stage of evolution for the industry to accommodate the changes brought on by our current pandemic. But wait, aren’t we still trying to reach level 2.0? Yes and no. The timetables have changed, and insurers need to adopt new approaches fast. Some of this is driven by technology, yet it is most necessary to change the culture and models that insurers rely on. Let’s articulate what Insurance 2.0 is. The insurance game is changing, fast. I would compare several types of insurance to a camera. The camera…

Banks can be as powerful and valued as the big technology firms. Yes, those trillion-dollar titans. This is because banks are already part of the Big Tech movement. Finance has always been a powerful instrument for societies. Even in the 1500s, when the absolute powers of popes and emperors had no competition, the bank-owning mercantile families were already a dominant class. They held sway over princes and pontiffs who owed them considerable amounts. For this reason, banking activities have always been evolving as society required it. Individual banks might get stuck in a place and time. Still, the industry innovates…